IS BIDEN HEADING US TO A DEEP RECESSION?

America is ALREADY in a recession that could be as bad as 2008: Dartmouth College prof David Blanchflower warns that the real state of the economy has been skewed by Biden's huge unemployment payments

 

Daily Mail 

October 18, 2021

 

David Blanchflower (pictured) says that every slump since the 1980s has been foreshadowed by 10-point drops in consumer indices from the Conference Board (top right) and University of Michigan (bottom right). 

The indices are drawn from questions put to ordinary Americans about their income expectations, employment conditions and what they expect for the US economy in the near future. 

 

Prices are up on a wide range of key goods as high inflation continues to hit US consumers

 

The Conference Board has measured a 25.3-point drop in 2021, while UM has recorded an 18.4-point slump. This compares to a 19-point and a 21-point dip for the indices respectively ahead of the 2008 global financial crash. 

'It seems to us that there is every likelihood that the United States entered recession at the end of 2021,' the authors write in a new research paper .